Minority entrepreneurs and International strategy selection Research Paper

Minority entrepreneurs and International strategy selection - Research Paper Example This means that these minorities have to plan an international strategy for their businesses in their nascent stages. The strategy needs to be planned effectively because the ability of the business to take risks and endure failure is very low and the owner may not be able to recover after a loss. Planning an international strategy for such a small and highly constrained business is extremely difficult and requires caution. Because of the cultural differences, minority entrepreneurs have a different style of management and therefore adopt different strategies that make them different from local entrepreneurs. The advantage of this distinctiveness is that they are better able to reach communities and generate referrals along with community support. The disadvantage is that this different style makes these entrepreneurs lesser at ease as compared to the local entrepreneurs. Minority entrepreneurs face a multitude of problems which decrease their chances of success.